Agora Asset Management's Absolute Return Fund was up +1.25% in December, while the its Leveraged Absolute Return Fund was up +1.38% in a flat market. The 2008 return for these funds was -12.97% and -11.77% respectively.
Both funds significantly outperformed the S&P/ASX 200 Accumulation Index (-38.4%) in 2008, with most of the losses on the Absolute Return Fund coming in January (-9.2%). This means both funds have retained approximately 90% of their capital base, which will enable them to both recover their losses more quickly and invest in more opportunities in the coming months. Much uncertainty remains however on economic and market conditions in 2009, which will impact the funds' strategies.
